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Here is the summary output from a regression equation. It is being used to attempt to predict the


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Here is the summary output from a regression equation. It is being used to attempt to predict the value of an undeveloped lot (in thousands of dollars) on the basis of three independent variables. Use this output to answer the questions below.

A

B

C

D

E

F

1

SUMMARY OUTPUT

2

3

Regression Statistics

4

Multiple R

0.4924

5

R Square

0.2425

6

Adjusted R Square

0.2019

7

Standard Error

40.24

8

Observations

(1)

9

10

ANOVA

11

df

SS

MS

F

Significance F

12

Regression

3

29,030

(3)

5.97

0.0013

13

Residual

(2)

90,694

1,620

14

Total

59

(4)

15

16

Coefficients

Standard Error

t Stat

P-Value

17

Intercept

51.39

23.52

2.19

0.0331

18

Lot Size

0.070

0.559

1.25

0.2156

19

Trees

0.679

0.229

2.96

0.0045

20

Distance

-0.378

0.195

-1.94

0.0577

a. (8) What are the values for the four blank spaces in the table (the four shaded areas numbered 1-4)? 1. 60, 2. 56, 3. 9676.67, 4. 119,724

b. (6) What is the Standard error of the estimate? What is it an estimate of?

c. (5) Which of the independent variables are statistically significant (at the 5% level)? How do you know?

d. (8) What is the regression equation?

e. (8) If there are 50 trees, the lot is 2 acres and it is .5 miles from the lake, what is the value of the property?

 


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Solution #000121882

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Here is the summary output from a regression equation. It is being used to attempt to predict the.zip

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